Analysts Set Old National Bancorp (NASDAQ:ONB) Price Target at $26.29

Shares of Old National Bancorp (NASDAQ:ONB) have been given a consensus recommendation of “Buy” by the seven research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $26.29.

Several equities analysts have commented on ONB shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their price objective on shares of Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Stephens restated an “overweight” rating and issued a $27.00 price objective on shares of Old National Bancorp in a research note on Wednesday, January 22nd. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Finally, Barclays raised their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th.

Old National Bancorp Trading Up 3.8 %

Shares of ONB stock opened at $20.96 on Monday. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $24.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average is $22.82 and its two-hundred day moving average is $21.25. The company has a market cap of $6.69 billion, a PE ratio of 12.48 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter in the prior year, the firm earned $0.46 EPS. Equities analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be given a $0.14 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 2.67%. Old National Bancorp’s dividend payout ratio (DPR) is currently 33.33%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ONB. Lee Danner & Bass Inc. bought a new position in Old National Bancorp in the fourth quarter worth $25,000. Empowered Funds LLC bought a new position in Old National Bancorp in the fourth quarter worth $28,000. Versant Capital Management Inc lifted its position in Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after purchasing an additional 615 shares during the period. UMB Bank n.a. lifted its holdings in shares of Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after acquiring an additional 663 shares during the period. Finally, Bank of Jackson Hole Trust bought a new position in shares of Old National Bancorp during the fourth quarter valued at $65,000. 83.66% of the stock is owned by institutional investors.

About Old National Bancorp

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.